December 04, 2008

Vopak Horizon considering expansion of oil terminal

It is reported that a further expansion of up to 1.2 million cubic meters and 4 to 6 additional berths is being considered for the oil terminal of Vopak Horizon Fujairah to better serve the Middle East sector for black and clean mineral oil products.

Vopak Horizon, in a statement, said that “The plan is on top of the ongoing expansion involving 380,000 cubic meters and 2 berths which will be commissioned in January 2008. The expansion is planned for the north side of the terminal and its conceptual design has already started. The oil terminal will have a total capacity of 2.7 million cubic meters and 10 to 12 berths to accommodate large and heavy vessels and tankers.”

Mr Walter Moone MD of Vopak said that the expansion project strengthens our position as a strategic regional hub. He added that "We are very pleased to continuously experience our customers' trust and the good cooperation with our valued partners and local authorities."

Mr Hussain Sultan CEO of Emirates National Oil Company said that "We are proud to announce that our valued JV partners are continuing their growth, as shown by this significant expansion in Fujairah, now one of the world's main bunker markets."

Vopak is a JV between ENOC Group and the Vitol Group.